SME Times is powered by   
Search News
Just in:   • CBDT signs 11 advance pricing agreements, 40 more in offing  • Austria registers continued GDP growth in Q3  • British GDP growth up 0.5 percent in Q3  • Gold down on strong US dollar  • German engineering services firm to expand India operations 
Last updated: 27 Sep, 2014  

Tax generic THMB Hopeful of 19 pc tax revenue growth in 2013-14: Shome

   Top Stories
» Govt. likely to do away with exemptions for industry: Jayant Sinha
» World wants cost and quality competitive products, FM tells exporters
» 'All support to make manufacturing globally competitive'
» Inflation in negative for 12th month in a row at (-)3.81 pc in Oct
» India's share in world GDP increasing consistently: PHD Chamber
SME Times News Bureau | 11 Mar, 2013
On the back of higher economic growth and the additional revenue measures of the budget, the central government hopes tax collections will increase 19 percent in 2013-14, the finance minister's adviser Parthasarathi Shome said Saturday.

"This year (2012-13) we are likely to have 17 percent growth in our tax revenue. And we are hopeful of achieving a 19 percent tax revenue growth in the next fiscal," Shome said while speaking at a seminar on 'Understanding Union Budget 2013-14', organised by St. Xavier's College and MCC Chamber of Commerce and Industry in Kolkata.

"Next year, with the higher rate of growth of economy, we can certainly expect 18 percent tax revenue growth. We have also taken some additional revenue measures or ARMs (in the budget). And with these ARMs, if we add to the 18 percent, you come to about 19 percent growth," he explained.

Describing the budget presented by union Finance Minister P. Chidambaram for 2013-14 as a "very balanced" one, he said the budget had taken measures to push the slowing growth rate and given attention to various interests.

"The government has taken the right measures in the budget. It has kept in place and given attention to various interests and tries to give some succor to those needed," he stated.

Shome said the finance minister in the budget had given special impetus to manufacturing and construction sectors.

"Also the markets for securities and mutual funds have really incentivised," he added.

Revenue receipts were estimated at Rs.9,35,685 crore in budget estimates for 2012-13, which comprised net tax revenue of Rs.7,71,071 crore and non-tax revenue of Rs.1,64,614 crore.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 55.10 53.85
As on 29 Nov, 2015
  Daily Poll
Will market regulator's plan to simplify start-ups' listing help SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(7)
» Govt approves interest equalisation scheme for MSME exporters(3)
» Govt mulls 'Online Udyog Aadhaar Form' to ease SME registration(3)
» Centre working on plan to incentivise industry: Official(2)
» Exports sops welcome, but not enough(2)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter